chap_06supply,demandandgovernmentpolicies(曼昆-文庫吧資料
2025-02-13 20:28本頁面
【正文】 ce Ceiling on Gasoline Is Binding... P1 Quantity of Gasoline 0 Price of Gasoline Q1 Demand S1 Price ceiling S2 2. … but when supply falls... P2 3. … the price ceiling bees binding... 4. … resulting in a shortage. Rent Control ?Rent controls are ceilings placed on the rents that landlords may charge their tenants. ?The goal of rent control policy is to help the poor by making housing more affordable. ?One economist called rent control “the best way to destroy a city, other than bombing.” Rent Control in the Short Run... Quantity of Apartments 0 Rental Price of Apartment Demand Supply Controlled rent Shortage Supply and demand for apartments are relatively inelastic Rent Control in the Long Run... Quantity of Apartments 0 Rental Price of Apartment Demand Supply Controlled rent Shortage Because the supply and demand for apartments are more elastic... … rent control causes a large shortage Price Floors When the government imposes a price floor, two outes are possible. ?The price floor is not binding if set below the equilibrium price. ?The price floor is binding if set above the equilibrium price, leading to a surplus. A Price Floor That Is Not Binding... $3 Quantity of IceCream Cones 0 Price of IceCream Cone 100 Equilibrium quantity Equilibrium price Demand Supply Price floor 2 A Price Floor That Is Binding... $3 Quantity of IceCream Cones 0 Price of IceCream Cone Equilibrium price Demand Supply Price floor $4 120 Quantity supplied 80 Quantity demanded Surplus Harcourt, Inc. items and derived items copyright 169。Supply, Demand and Government Policies Chapter 6 Supply, Demand, and Government Policies ?In a free, unregulated market system, market forces establish equilibrium prices and exchange quantities. ?While equilibrium conditions may be efficient, it may be true that not everyone is satisfied. ?One of the roles of economists is to use their theories to assist in the development of policies. Price Controls... ?Are usually enacted when policymakers believe the market price is unfair to buyers or sellers. ?Result in governmentcreated price ceilings and floors. Price Ceilings Price Floors Price Ceiling ?A legally established maximum price at which a good can be sold. Price Floor ?A legally established minimum price at which a good can be sold. Price Ceilings Two outes are possible when the government imposes a price ceiling: ? The price ceiling is not binding if set above the equilibrium price. ? The price ceiling is binding if set below the equilibrium price, leading to a shortage. A Price Ceiling That Is Not Binding... $4 3 Quantity of IceCream Cones 0 Price of IceCream Cone Demand Supply Price ceil
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